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Company announcement: Credit Suisse Securities (Europe) Limited disclosable interest in Xstrata
Zug, 12 December 2006
Xstrata plc ("Xstrata") announces that it was notified by Credit Suisse Group:
1) On 11th December 2006, that as of 8 December 2006, all of Credit Suisse Securities (Europe) Limited’s (“CSSEL”) rights and obligations under the agreement between it and Glencore International AG (“Glencore”) (the “Capital Management Arrangement”) were novated to Duchy Investments Sàrl (“Duchy”), another company within the Credit Suisse Group. The Capital Management Arrangement otherwise remains unchanged. Glencore entered into the Capital Management Arrangement with the Credit Suisse Group in connection with the Xstrata Group’s acquisition of MIM Holdings Limited and associated rights issue in 2003. The Capital Management Agreement is an arrangement to which section 204 of the Companies Act 1985 (“the Act”) applies in respect of Xstrata's ordinary shares (the “Shares”).
2) On 8th December 2006 that as of close of business on 6 December 2006, Duchy was interested in 336,801,333 Shares (35.71%) in aggregate of which it was interested in 185,240,733 (19.64%) by virtue of the Capital Management Arrangement. Hanmer BV (a wholly-owned subsidiary of Duchy) is the holder of 151,560,600 Shares (16.07%). HSBC Plc is the registered holder of 185,240,733 Shares. It is understood these Shares, are held on behalf of Finges B.V., a wholly owned subsidiary of Glencore International AG.
3) Credit Suisse International was interested in 12,522,076 Shares in the normal course of business of which 11,626,626 Shares are interests of the type as is mentioned in Section 208(5) of the Act by virtue of the right to call for delivery of securities.
4) CSSEL was interested in 8,296,599 Shares in the normal course of business of which 41,396 Shares are interests of the type as is mentioned in section 208(5) of the Act by virtue of the right to redelivery of equivalent securities under stock lending arrangements.
5) Credit Suisse Life (Bermuda) Ltd was interested in 6,500 Shares in the normal course of business.
6) The Credit Suisse Group had an interest in 781,244 Shares held under discretionary fund management arrangements.
7) In total, the Credit Suisse Group has an interest in 358,407,752 Shares.
As of 11 December 2006, 943,150,383 Shares were in issue.
Xstrata contacts
Richard Elliston
Telephone 020 7968 2885
Mobile 07759 924 576
Email relliston@xstrata.com
Claire Divver
Telephone 020 7968 2871
Mobile 07785 964 340
Email cdivver@xstrata.com